Altavista Wealth Management Inc. raised its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,933 shares of the pipeline company’s stock after buying an additional 177 shares during the period. Altavista Wealth Management Inc.’s holdings in Enbridge were worth $276,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in ENB. CGOV Asset Management lifted its position in Enbridge by 49.1% during the first quarter. CGOV Asset Management now owns 1,093,641 shares of the pipeline company’s stock valued at $60,927,000 after buying an additional 360,225 shares in the last quarter. United States Steel & Carnegie Pension Fund lifted its position in Enbridge by 27.0% during the first quarter. United States Steel & Carnegie Pension Fund now owns 1,647,915 shares of the pipeline company’s stock valued at $68,949,000 after buying an additional 350,450 shares in the last quarter. Bahl & Gaynor Inc. lifted its position in Enbridge by 5,603.2% during the first quarter. Bahl & Gaynor Inc. now owns 2,041,757 shares of the pipeline company’s stock valued at $85,427,000 after buying an additional 2,005,957 shares in the last quarter. Worth Venture Partners LLC acquired a new position in Enbridge during the first quarter valued at approximately $283,000. Finally, Clifford Swan Investment Counsel LLC acquired a new position in Enbridge during the first quarter valued at approximately $218,000. 61.58% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on ENB. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $44.00 price target (down from $45.00) on shares of Enbridge in a research report on Friday, July 14th. Zacks Investment Research cut shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, BidaskClub raised shares of Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Enbridge has an average rating of “Hold” and an average target price of $56.00.
Enbridge Inc (ENB) traded down 0.74% on Thursday, hitting $41.40. 684,146 shares of the stock were exchanged. Enbridge Inc has a one year low of $37.37 and a one year high of $45.09. The company has a market cap of $68.14 billion, a P/E ratio of 32.50 and a beta of 0.65. The company’s 50 day moving average price is $40.98 and its 200-day moving average price is $40.57.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.05). Enbridge had a net margin of 5.28% and a return on equity of 6.04%. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same quarter last year, the business earned $0.50 EPS. Equities research analysts predict that Enbridge Inc will post $1.63 EPS for the current fiscal year.
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Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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